|
HALIFAX, NS (MINEWEB) - After weeks on a particularly wild ride down this May, juniors gota reprieve late this week, making gains across metal categoriesThursday and early Friday. The snapshot of the suddenly buoyant junior market is looking likethis: Especially notable were two Argentina focused juniors. Lumina Copper (TSX-V: LCC) surged up 20 percent to C$9.74 Thursday and was upanother 10 percent to C$10.75 today on light trading. The gainsnearly erased shareprice losses in the last few days in whichLumina dropped more than 30 percent. Indeed that drop elicited arare "we have no idea what's up with our shareprice" statement fromLumina. Another Argentina focused junior, Extorre Gold Mines (TSX: XG) was up 16 percent to C$2.65 Thursday and another 7.92percent to C$2.86 Friday. Like Lumina, it has fallen heavily inrecent days, near 30 percent, and it too issued a statementadmonishing markets on valuation. It said, "Extorre is of the viewthat the current market for the Company's shares does not reflectthe underlying value of its high quality asset at Cerro Moro." Likely this is a sentiment shared by many a junior as to how themarket has been treating their stock values. There were significant movements among gold explorers: Early stage Atac Resources (TSX-V: ATC) was up 22 percent to C$2.40 Thursday and then 11percent to C$2.67 so far early Friday on strong volumes. Guyana Goldfields (TSX: GUY) was up 9.04 percent yesterday and a further 12 percentto C$2.16 mid Friday morning. Gold Standard Ventures (TSX-V: GV) was up three percent to C$2.35 yesterday and a littlebit more today. In silver and base metals Fortuna Silver Mines (TSX: FVI) was up eight percent to C$3.84 Thursday and threepercent to C$3.97 today. Impact Silver (TSX-V: IPT) was up 12 percent to C$1.34 yesterday and two percentmore today to C$1.37. NGEx Resources (TSX: NGQ), a junior with a slew of properties on threecontinents, gained two percent to C$1.96 yesterday and another centso far Friday. Copper miner Capstone Mining (TSX: CS) was up about four percent to C$2.36 yesterday and likenumerous other juniors opened with a small early gain on Friday. Gains also extended beyond exploration and mining.International-driller Energold Drilling (TSX-V: EGD) was up four percent to $4.29 yesterday and so faranother four percent to C$4.47 today. Undoubtedly these are notable gains that punctuate a slide downthat has, for most juniors, looked something like the TSX GlobalMining index in recent months: Whether it is a real turn and the beginning of an appreciableclimb remains to be seen but, it is worth noting that as we havereached ever greater depths on this slide down, there has beenincreasing talk about the bargains to be had in the junior market(e.g., Bob Moriarty ). As a speculative endeavour, the junior market becomes all themore appetizing for some investors under current conditions withintriguing cases of cashed up, tightly held and well-managedjuniors that have lost significant market capitalization over thepast year. SUBSCRIBE to Mineweb.com's free daily newsletter now. The e-commerce company in China offers quality products such as CNC Horizontal Machining Center , CNC Tapping Machine, and more. For more , please visit CNC Vertical Machining Center today!
Related Articles -
CNC Horizontal Machining Center, CNC Tapping Machine,
|
